LONDON--(BUSINESS WIRE)--#informationtechnology--The global logistics services software market size is expected to grow by USD 2.33 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Logistics software solutions are increasingly being used in the e-commerce industry for transportation and warehouse management. The adoption of WMS software solutions helps users by saving time in inventory management. Furthermore, these solutions enable e-commerce service providers to track consumer behavior and purchase patterns. Therefore, the growing e-commerce industry is expected to boost the demand for logistics software solutions during the forecast period.
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As per Technavio, the integration of technologically advanced solutions will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Logistics Services Software Market: Integration of Technologically Advanced Solutions
Vendors in the market are increasingly focusing on the introduction of software solutions with advanced technologies including AI to mitigate operational inefficiencies. The use of AI in supply chain management solutions allows end-users to predict demand and supply, optimize warehouse management, and ensure accuracy in shipping. Thus, the integration of technologically advanced solutions in supply chain management is expected to positively impact the logistics services software market during the forecast period.
“Rise in the number of strategic partnerships, implementation of blockchain technology and rising investments in logistics industry are other factors that are expected to boost the logistics services software market growth during the forecast period,” says a senior analyst at Technavio.
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Logistics Services Software Market: Segmentation Analysis
This market research report segments the logistics services software market by deployment (on-premise and cloud-based), and application (WMS and TMS) and geography (APAC, Europe, MEA, North America, and South America).
North America led the market in 2019, followed by Europe, APAC, MEA, and South America, respectively, due to the high adoption TMS software and WMS software. However, EMEA is anticipated to account for the largest incremental growth during the forecast period due to the increasing investments in warehouse units in Europe.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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